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China economic focus September 2025: What’s behind the investment downturn?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
In the September China economic focus, we discuss the main reasons behind the slowing fixed asset investment growth: the anti-involution campaign, a further slump in property-related investment and a sustained withdrawal of foreign direct investment. To stabilise the economy, the government is focusing its efforts on shifting China to a consumption-led model. At the same time, it also offers support for investment through a mix of major new infrastructure projects.
Table of contents
- Executive Summary
- Three primary drivers of investment downturn
- Government efforts to mitigate impact on growth
- Appendix
Tables and charts
This report includes the following images and tables:
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Investment in the anti-involution related sectors slowed significantlyProperty-related investment declined furtherHousing inventory remains high
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FDI from China's traditional partners droppedWood Mackenzie's proprietary China dataManufacturing PMIIndustrial production and retail salesTradeInflationPropertyInvestmentMoney supply (M2)
- 1 more item(s)...
What's included
This report contains:
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